Major indices are lower as tech stocks pull back following recent strength in semi and chip names. Investors also assess recent Chinese interest rate cuts and last week's US Fed decision to leave rates unchanged.
Portfolio Pulse from Benzinga Newsdesk
Major indices are lower due to a pullback in tech stocks, particularly in semi and chip names. Investors are also evaluating recent Chinese interest rate cuts and the US Fed's decision to leave rates unchanged.
June 20, 2023 | 4:15 pm
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NEGATIVE IMPACT
DIA may be impacted by the pullback in tech stocks and investors' assessment of recent Chinese interest rate cuts and the US Fed's decision.
DIA is an ETF that tracks the Dow Jones Industrial Average, which includes major tech companies. The pullback in tech stocks and investors' assessment of recent economic events may lead to a short-term negative impact on DIA.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
IWM may be affected by the tech stock pullback and investors' evaluation of recent Chinese interest rate cuts and the US Fed's decision.
IWM is an ETF that tracks the Russell 2000 Index, which includes small-cap tech companies. The pullback in tech stocks and investors' assessment of recent economic events may lead to a short-term negative impact on IWM.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
QQQ may be negatively impacted by the tech stock pullback and investors' assessment of recent Chinese interest rate cuts and the US Fed's decision.
QQQ is an ETF that tracks the Nasdaq-100 Index, which is heavily weighted towards tech companies. The pullback in tech stocks and investors' assessment of recent economic events may lead to a short-term negative impact on QQQ.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
SPY may be impacted by the pullback in tech stocks and investors' assessment of recent Chinese interest rate cuts and the US Fed's decision.
SPY is an ETF that tracks the S&P 500 Index, which includes major tech companies. The pullback in tech stocks and investors' assessment of recent economic events may lead to a short-term negative impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75